Government Grants for All

The experience of becoming a mother for single, unpartnered, medicaid-eligible, first-time mothers.(Clinical Scholarship): An article from: Journal of Nursing Scholarship

The experience of becoming a mother for single, unpartnered, medicaid-eligible, first-time mothers.(Clinical Scholarship): An article from: Journal of Nursing Scholarship

This digital document is an article from Journal of Nursing Scholarship, published by Sigma Theta Tau International Honor Society of Nursing on March 22, 2004. The length of the article is 5807 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

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Title: The experience of becoming a mother for sin

List Price: $ 5.95 Price: $ 5.95

Tags: Article, Becoming, Experience, FirstTime, From, Journal, medicaideligible, Mother, mothers.Clinical, Nursing, Scholarship, Single, unpartnered

First-time Home Buyer Tax Credit Affects Jobs in Real Estate

With the first-time home buyer tax credit currently set to expire on November 30, professionals in real estate markets around the country are scrambling to try to close as many deals as possible before the deadline. Most people inside the real estate industry and within circles that monitor the actions of the federal government believe that the tax credit will be extended, at least through the early portion of next year. The effect of the tax credit appears to have been significant, with home purchasing activity rising over the past several months. The problem that real estate professionals are facing now is that the increased demand may have been drawn forward by the tax credit – and a significant drop is likely after November 30.

Even with the expected extension of the deadline, analysts are assuming that much of the activity and demand for homes among first-time buyers will have been realized in the short term. Most people, it is believed, would have at least attempted to purchase a home before the November 30 deadline, if in fact they were going to make any attempt at all.

With today’s news that the Federal Housing Administration may be facing troubles similar to that of the federally-bailed-out Freddie Mac and Fannie Mae, many people in the real estate and mortgage industries are uneasy at the moment. But not all is doom and gloom in these circles – and for a select few individuals, the opportunities from now through the next several months may be better than any seen in many years.

If you are considering real estate jobs or careers in real estate, you really only need to have a few clients in your stable to generate a tremendous amount of sales momentum. Not everyone used the housing boom to cash out all of the inflated equity in their homes. And although unemployment is creeping higher on a daily basis, the vast majority of Americans are still gainfully employed – over 90% of them, in fact. If you know some of the more fiscally responsible among us, then you likely know someone or know of someone who is considering taking advantage of a down real estate market to buy a home that they may not have been able to afford only a few short years ago.

Whether you are considering a career as a real estate agent or a mortgage broker, you can gain your license in most states in a relatively short period of time – generally as little as a few weeks. If you come into the business with a small roster of clients through family, friends or acquaintances, you may find yourself in a very strong position to take advantage of a weak housing market. If the first-time home buyer tax credit actually does expire on November 30, your position becomes even stronger.

Tags: Affects, Buyer, Credit, Estate, FirstTime, Home, Jobs, Real

First-time buyers: Take that first step with a Spanish Property

Over recent years the substantial growth in UK property prices has outstripped the income generated by people in their mid/late twenties. For single people, finding a deposit is certainly difficult enough, and with the need for a substantial mortgage, repayments are not within their income realm.

Will this phenomenon continue? Forecasters are concluding that although there may well be a period of stagnation, or even a reduction over the next 10 years, the UK property market will continue to stretch away from earned income. As there is a long standing tradition for UK youngsters to fly the family nest much earlier than in other European countries, the UK alternative is for youngsters to rent a property.

Whilst renting property does provide an element of freedom – and for many, helps avoid early commitment and responsibility – rent paid out is effectively disposed of with no real tangible return. Parents of course consider it an absolute waste. Coming out of University with a student debt is a millstone and contributes to youngsters’ inability to make their first home purchase.

With more disposable income at their finger tips than all previous generations, this does present the risk that the current generation might squander their income and dispose of it – without the benefit of securing an asset or attain some long term financial security.

So, other than rent a property, what alternatives do those not fortunate enough to be able to make their first property purchase have? Well, why not buy in Spain? Either as a solo consideration or bolstered by sharing with a partner or sibling, the potential is obvious.

Is this a crazy notion or a viable option? Other than the obvious attractions of the climate, the Spanish economy is buoyant and the property market has seen healthy growth over many years, and is anticipated to continue doing so. Entry-level property is much lower than in the UK and first time buyers can make a purchase with a mortgage as support and generate income through property rental.

Buying a Spanish home in the well regarded Costa Calida area offers a good example of what can be achieved. For a little over 100,000 Euros, one bedroom Spanish properties can be secured in a coastal area, while a good quality two bedroom Spanish apartment can be purchased for a small additional cost. With regular all year round flights to and from many UK airports into the heart of the Costa, a long weekend away or a revitalising short break is an added attraction.

For those with an interest in diving, fishing, golf, surfing, relaxing on the beach or walking in the mountains, owning a Spanish apartment has many advantages over its UK counterpart. Add into the equation lower living costs, no heating costs and lower community charges; plus the ability to take annual holidays there, and the facility to easily rent the apartment to friends and work colleagues all makes it a significant viable option.

For those switched-on youngsters considering buying a property in Spain, choosing a knowledgeable and reliable Spanish property agent can make the purchasing process in Spain a straightforward matter. And in today’s world dropping into casual conversation being an owner of a Spanish property is the ultimate in ‘cool’.

Andrew Regan is an online, freelance journalist.

Tags: Buyers, First, FirstTime, Property, Spanish, Step, Take

What First-time Real Estate Buyers Should Know to Avoid Foreclosure

The last thing a new homeowner thinks about when making that first real estate transaction is foreclosure. Typically, they focus on those facts that “everybody knows”: real estate is a great investment, it makes more sense to own than rent, and the mortgage company approved the loan so it must be OK.

While the first two statements are true in many circumstances; real estate can be a great investment and it often makes more sense to own than rent- the last one about mortgage approval is a myth. In fact, the assumption that being approved for a mortgage loan means you can afford a home has landed so many homeowners in foreclosure, that the real estate industry and the United States Senate are tackling the subject.

US Senate Tackles Real Estate Lending

At the end of June, the president of the National Association of Realtors (NAR), Pat Combs, testified before the United States Senate on the subject of imposing more reasonable lending guidelines for both the real estate lenders and the borrowers. Here’s the tricky part. Countrywide Financial reported in April that foreclosures were double from last year. That rate of foreclosure increased from .44 to .83 percent. Recent attempts to more closely regulate lending standards have resulted in fewer low-income borrowers being able to qualify for real estate purchases. While this measure protects consumers to a certain degree, it also makes it much harder for low-income families to obtain loans at reasonable interest rates.

This has resulted in an increased number of real estate borrowers taking out non-traditional loans like ARMs and interest-only loans for the lower interest rates. The problem is that when the interest rates rise with inflation, or the loan amount comes due, these families are unable to refinance or handle the change in payment. That’s how they end up in foreclosure.

This is a concern for both individual families and the national economy. Real estate sales in March were reported down by 8.4%, and the new housing starts were reported down by 2.1% in May. What does this mean for the first-time real estate buyer?

Steps to Avoid Foreclosure

The good news is that the over saturated real estate market can be great for buyers. Sellers compete for your business, so you are likely to get great real estate investments. But you need to pay close attention to your finances and your future commitments as you shop for a real estate mortgage. If your credit is in poor shape, take sometime to improve it before applying for any type of a real estate loan. A slightly higher FICO score can make a huge difference in the interest you will pay over the life of your loan.

Also, pay very close attention to the real estate loans available to you. An ARM (Adjustable Rate Mortgage) might be appealing for the lower interest rate and lower monthly payment, but will you be able to handle the payment if interest rates rise? An ARM can be a great tool in the right circumstances, but if you are unsure of your ability to handle the increase in monthly payment, you are better off to avoid it.

Many first-time real estate buyers obtained ARM loans assuming that they could refinance when the rate was raised. Stricter lending guidelines have prevented many from doing so- and these are some of the people who end up in foreclosure.

Finally, make sure you are aware of all the costs associated with owning real estate and a home. Upfront costs like taxes, PMI, and closing costs. Long term-costs like home and yard maintenance, and homeowner’s insurance. These will all impact your financial ability to afford your home and avoid foreclosure.

Author Bio:
John Harris is a researcher and writer on real estate topics such as economics, credit improvement tips, home selling advice and home buying preparations. For more information please visit Carlsbad Homes for Sale

Tags: Avoid, Buyers, Estate, FirstTime, Foreclosure, Know, Real, Should

First-Time Home Buyer Tax Credit – Extension of the program in 2010

Democrat or Republican, if you’re a homebuyer or a Realtor, you will appreciate the fact that congress has extended the existing tax credit of up to $8,000 for qualified first time home buyers until April 30, 2010. The program has also been expanded by granting a tax credit of up to $6,500 credit for certain qualified home owners who are purchasing a new home between November 7, 2009, and April 30, 2010.

Here are some details of the extended/expanded program:

- The $8,000 tax credit is for first-time home buyers only. In order to be eligible for the tax credit a first-time home buyer is defined as someone who has not owned a primary residence for the three years prior to the purchase.
- The expanded program also provides a tax credit for current home owners who are buying a new home. Buyers may be eligible to receive up to a $6,500 when they buy their new home if they have lived in the same primary residence for 5 consecutive years during the 8-year period prior to the new home purchase.
- The tax credit is equal to 10 percent of the home’s purchase price not to exceed $8,000 for first time buyers.
- The credit extends the deadline to purchase a home to April 30, 2010. If the homebuyer enters into a contract to buy a new house before April 30, 2010, they will qualify if they close on the home before June 30, 2010.
- For buyers who enter into contract after November 6, 2009, eligible income limits for the full $8,000 credit are $125,000 for single taxpayers and $225,000 for married taxpayers filing joint returns.
- The tax credit is refundable, meaning the federal government will issue a refund check back to the purchaser even if there is little or no income tax paid.

This is an opportunity for home buyers that they may never see again in their lifetimes. Factor into the equation that home prices in many markets have dropped anywhere from 10% to 25% form 2007 and 2008 price levels, that these markets have very likely bottomed out, and that interest rates are at near historical lows, there can be very few strong arguments for not buying a house in the next few months.

Now is the time to make your move. Please feel free to visit our website at Colorado Home Finder for additional information. Remember, if you snooze you lose.

Tags: 2010, Buyer, Credit, Extension, FirstTime, Home, Program

Homebuying Tips to the First-time Homebuyers

It is normal for any first-time to struggle understanding the basics. After all, home buying is a very intricate process. You may know the step by step procedure but then when a crisis takes place you may get lost in translation.

Educating yourself about the whole process is very important. You also need to find the right help. Doing so helps you avoid problems along the way and can help you save thousands of dollars.

Of course, you may also need some tips to make things easier for you. To help you out, here are some of the tips you might want to consider:

1. Double check your finances. The first best thing that you can do is to check your credit. You can do this by obtaining a credit report from Experian, Transunion and Equifax. You can actually pay for it or you can get in and home free credit report. The purpose of doing so check for any inaccuracies that could affect your credit ratings.

Credit scores or ratings are very important in any loan application. And these are calculated based on your credit report. Hence, you should check your credit reports for factors that could lower the rate.

2. Get help from a skilled and knowledgeable real estate agent. Don’t think that you can save thousands of dollars by not hiring them. The commission that you pay to them, they might just be worth it.

First timers are prone to mistakes. Getting a real estate agent to walk you through the process and see to it that you are doing the right thing helps you avoid delays. Aside from that, if you need third party services like a home inspection or Escrow services, they can refer you to companies they could provide you cheaper services.

3. Learn how to negotiate. When you buy homes, you make offers and prices that you offer may not be favorable for the seller. When this happens you may have to point out certain things to justify your offer. Therefore, knowing how to negotiate is very important.

To be able to negotiate effectively, one needs to have a good background about the seller, the property, reasons for selling and even the current real market condition. Hence, researching and properly positioning yourself can help you make counteroffers (in case the first one is rejected).

4. Never proceed with home buying in the absence of home inspection. Failing to do so could lead to costly repairs that could be overwhelming to you. Inspection also helps you determine the safety of the place, as well as help you anticipate future repairs and prepare for it. Moreover, this also helps you negotiate properly; hence, giving you a chance to lower price and save thousands of dollars.

5. Prepare for the closing. Your lender may require tons from you like insurances. You may also have tons of payments to settle. Secure all of these things ahead of time. As to finances, you may check with the closing agent the official debts that need to be paid.

Discover more real estate tips when you visit Anthem Real Estate.

Tags: FirstTime, Homebuyers, Homebuying, Tips

UK first-time house buyers feeling over stretched

The population of Britain is renowned across Europe as a nation of fanatical home owners. While members of other countries are content to rent their home rather than take on the burden of actual ownership and long-term financial debt, people in the UK seem fixated with the idea of buying and owning their home.

Unfortunately for the thousands of current prospective first-time home buyers, the soaring levels of house prices in recent years has made it increasingly difficult to get into the first rung of the property ladder. As the value of houses at all levels increases, the number of first-time buyers who are having to borrow the full value or more of their property, or rely on more financially secure friends and relatives to stand any chance of buying a home, has also increased.

According to a recent report by the Post Office, there are currently many first-time buyers who have become so overstretched through their borrowing that they now stand the risk of losing their homes within the next six months.
According to Claire Oldstein from the Post Office: “First-time buyers tend to overstretch themselves, but need to consider what they would do if they lost their income.

“One in three first-time buyers accepts that their household costs are higher than they had anticipated and 45 per cent do not have any insurance against loss of income resulting from accident, sickness of unemployment.”

While the major mortgage lenders like the Woolwich mortgages (http://www.woolwich.co.uk/ ), understand that the introduction of first-time buyers is essential to keep the housing market from becoming stagnant, making it essential that many first-time buyer mortgages include incentives such as introductory reduced fixed rate interest periods, to help buyers regain their secure financial footing, this does not address the fundamental problem of increased borrowing.

First-time buyers are becoming more wary over the disparity between wages and the size of the debts accrued through taking out long-term mortgage loans. A study by the National Association of Estate Agents, indicated that only 12% of all houses sold last year were bought by first-timers, compared with nearly a third in 2000.

Mortgage comparison (http://www.moneynet.co.uk/mortgages/index.shtml ) services like Moneynet and special introductory rates can help to ensure buyers get a better deal, but as the average length of time take to save up the deposit for a new house increases, and with it the average age of all first-time buyers, it is evident that the burden being felt is starting to weigh heavily on the already financially stretched resources of young house hunters.

Claire Oldstein warned that, “It’s unlikely they will have a big enough rainy day fund to rely on especially after pulling together a deposit. Protecting yourself may seem another unwelcome expense but it could actually be money well spent should the unexpected happen.”

Tags: Buyers, feeling, FirstTime, House, Over, stretched

Government Grants For First-Time Home Buyers

A home is not just an investment but a personal joy and a stronghold that brings a sense of security to you and your family. The good news is that the American Government sanctions close to $200 million as grants every year for the coming four years to the low-income group who want to buy their first home. This certainly makes the castle in the sky inch closer for those who dream of buying their own home and are unable to do so because of the heavy initial down payments in the process.

Government Grants For First-Time Home Buyers
The Government has launched the American Dream Down Payment Initiative Grant for which it has tied up with banks to facilitate this process in order to boost the country’s economy by allowing more fluidity in loans to first time home buyers. One of the best things that have come out of this is that there is no window for getting cheated because the state and federal agencies are the most credible people you can literally speaking, bank on as compared to any realtor or predatory loan shark.

Now, not only has the problem with the initial finance been obliterated but the interest rates with banks are also touching rock bottom and all financial assistance professionals are urging you to benefit of this wonderful opportunity. Once you are in possession of your own home the equity in it can be the source of making the next down payment.

As this facility is not available to you if you are a first time home buyer as you don’t have any equity in property, the Federal Government has come up with this scheme of offering first time home buyer grants. Not only are these grants a boon to making the payment but are also immensely practical in closing the mortgage. In this case, even bad credit can’t be counted against you as you have not had in your own name any housing ownership within the last three years.

Tax Benefits
A substantial amount of tax savings can be generated through your mortgage interests too. If you are renting an apartment for a certain amount, the same amount when applied to your mortgage loan payment would result in a huge tax deduction as practically speaking, the preliminary mortgage payment is generally to cover up interest rather than actually paying off the loan and this interest is tax deductible. If you are in the conventional 28% tax bracket with all the normal expenditure, this deduction could cause a major dent in your annual savings.

There are absolutely no issues and hang-ups and the only quantifiable point is that your annual family income should meet the stipulated minimum in order to receive the grant, which is calculated on the basis of income v/s dependents, the location of the home etc. However, not every state in the USA is offering this kind of a grant yet, though it is still possible to obtain a grant through federal assistance. It is important to note that each state has its own set of rules and regulations that apply to the grant program as instigated by the state legislature.

Why is this Free Money?
The government is labeling this money as free money because as there are no interests or monthly payments to be made it is virtually free, these funds remain mute as a second mortgage until they are repaid. In other cases, they are simply forgiven like in the State of Wyoming; the government grant for first-time home buyers can be as high as $2,000 and is forgiven in the case that you reside in the house for a period of 30 years.

This differs in different states and some states offer a loan that turns into a grant after a certain period of time. Thus a loan calls for the amount to be repaid in installments even if it for a low interest rate. However this is only a qualifying process for the mortgage and in most cases you receive a percentage of the mortgage amount making it all very easy in the long run.

Unmasking the Grant availability
All this may be a little difficult to believe at first and reason dictates that this kind of money will be hard to obtain for the average seeker but in reality these grants are not highly advertised by the government and there are few sources that can give you the necessary data so the chances that you will have people queuing up outside these agencies and going away with pot loads of money is very, very slim. Most of these agencies have not exhausted their capacity which simply goes to say that there is money available for obtaining that grant.

Lastly, a home is definitely high on the list of safe investments into the future as the escalation of prices for properties is constantly on the rise owing to growing population and economy that gives way to inflation that causes real estate investments to be stable if not a climber. Now is the best time to take advantage of the extremely low interest rates and make good your dream of owning your home.

Tags: Buyers, FirstTime, Government, Grants, Home